The government's push has gradually increased insurance penetration in the country and has led to a proliferation of insurance schemes.
Benchmark indices ended the volatile September 18 session on a positive note. Nifty managed to hold above 10,800 supported by metal, IT, infra and energy stocks. Midcap and smallcap indices ended with 0.3 percent gain.
Sudarshan Sukhani of s2analytics.com recommends buying Tata Power with stop loss at Rs 63 and target of Rs 66 and Godrej Consumer with stop loss at Rs 630 and target of Rs 695.
FOMC meet outcome would be a key factor as there is a wide expectation of a rate cut. However, commentary on growth and rate outlook would be crucial.
A dealer survey by CLSA shows that demand continues to be weak and inventories high.
The global brokerage also initiated coverage on ACC and Ambuja Cements with a cautious view based on potential for continued weakness in demand scenario in the near term versus expectations.
Prakash Gaba of prakashgaba.com recommends selling Ashok Leyland with target at Rs 50 and stop loss at Rs 62 and Bharat Heavy Electricals with target at Rs 45 and stop loss at Rs 50.
The immediate support for Nifty is placed at 10,740 below which further selloff can be seen which could drag the Nifty50 towards 10,600 levels.
Lower side support is maintained around 10,700-10,800 levels.
Here are the top 8 stock ideas from brokerages which could give 14-39 percent upside in the short to medium term:
On the higher side, Nifty could move towards its immediate resistance level of 11,200. Any close above 11,200 levels would result in further short covering, which might push Nifty to 11,450 levels
Sudarshan Sukhani of s2analytics.com recommends buying Tata Power with stop loss at Rs 63 and target of Rs 67 and Titan Company with stop loss at Rs 1120 and target of Rs 1180.
Prakash Gaba of prakashgaba.com recommends buying Escorts with target at Rs 555 and stop loss at Rs 525 and Indian Oil Corporation with target at Rs 135 and stop loss at Rs 128.
We continue with optimistic stance and advice traders not to venture into taking any contra bets. The immediate supports for the index are placed around 10,945 and 10,890.
The Abqaiq and Khurais oil processing plants have capacities of 7 million barrels per day (mbpd) and 1 mbpd, respectively
The new measures announced by the finance minister for stimulating the economy, send a clear message that the government is giving priority to revive economic growth
Out of total 14 percent YoY growth in industry, private players contributed only 11 percent in August compared to 22 percent in July, which is half in number
SMC Global Securities has a buy on Ajanta Pharma and Can Fin Homes while Choice Broking has buy on State Bank of India.
We expect the company to continue to gradually improve its performance in medium term.
We expect order inflows to show strong growth due to railways, metro projects and automation orders from steel industry.
We expect 28 percent PAT CAGR over FY19-21, partly hit by higher depreciation and interest costs and raise our rating to a Buy, with a higher target of Rs 1,204, implying PE of 17.5x and EV of USD 109/tonne.
We recommend buying Mahindra & Mahindra around Rs 555 with a stop loss of Rs 522 for higher targets of Rs 605.
Sectors with positive outlooks are real estate, small appliances and branded apparel, while outlook on autos, select staples and global commodities is more cautious.
The brokerage also has cautious stance on Edelweiss Financial, where it maintained hold rating.
Historically speaking, the midcap and smallcap indices have never given negative returns for two consecutive years, and they have had a dismal 2018.